DBS Bank Joins Hedera Hashgraph (HBAR) Board of Directors and Operates Network Node

New step for Hedera Hashgraph

The Hedera Hashgraph network continues to develop by collaborating with banking and technology giants. After the EDF group, it is DBS Bank’s turn to join the project’s board of directors, and at the same time to operate a network node.

Listed on the stock exchange and very active in the blockchain industry, DBS Bank is a juggernaut in its sector. It is neither more nor less than the great bank of Southeast Asia in terms of its assets under management, and among the largest banks in Asia.

DBS Bank thus becomes the 39th entity to join the board of directors of Hedera Hashgraph, alongside companies like LG, Boeing, Deutsche Telekom, and even Google. Still relatively little used by individuals, Hedera is a decentralized public network dedicated – initially – to companies, for them to develop applications.

The role of Hedera’s board of directors is to boost the adoption of the network in many areas of the industry, including decentralized finance (DeFi), non-fungible tokens (NFTs) or even central bank digital currencies. (MNBC).

In addition, DBS Bank already operates several blockchain solutions to facilitate cross-border payments and tokenization of assets. Hedera Hashgraph’s network should benefit greatly from the institutional relationships acquired by DBS Bank.

“We have leveraged emerging technologies to reshape the future of banking and in recent months we have brought a number of innovative blockchain-powered offerings to market. […] We look forward to joining our peers on the Hedera Board of Directors to explore other use cases that bring tangible benefits to our stakeholders, ”added Jimmy Ng, CTO of DBS Bank.

Little by little and with a certain discretion, Hedera Hashgraph is building a rather solid ecosystem, forging partnerships with large companies that already have a foothold in the cryptocurrency industry.

At the time of writing, HBAR, the native token of the Hedera network, is 38th among the largest capitalizations, with more than $ 5.6 billion in capitalization.

👉 Consult our presentation sheet of Hedera Hashgraph

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About the author: Clément Wardzala

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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.

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